MAIN INTERNATIONAL BANKS IN DUBAI

There are 23 local and 26 foreign banks operating in the United Arab Emirates, and the top five financial institutions account for approximately 60% of the sector's assets and therefore dominate the country's banking industry. Listed below are the top banks in the United Arab Emirates by total assets, eight of them are Islamic banks:

Emirates NBD

Head office in Dubai with 9,000 employees, Emirates NBD is the largest banking group in United Arab Emirates. The bank currently runs 221 branches and 1,023 ATMs and SDMs in UAE and abroad. Its business areas are comprised of Retail Banking and Wealth Management, Wholesale Banking, Islamic Banking, International Banking, and Information Technology and Operations.

In 2016, the bank's total assets amounted to $121 billion with a net profit of $1.97 billion.

National Bank of Abu Dhabi

Established in 1968, it is the largest lending bank in the Emirate of Abu Dhabi, offering corporate, retail, private, investment and Islamic banking services. The bank is headquartered in Abu Dhabi and employs 10,849 employees. It is present in 19 countries abroad. In 2016, it reported total assets of $114 billion and net profit of $1.44 billion.

Abu Dhabi Commercial Bank

Founded in 1985, Abu Dhabi Commercial Bank offers retail, commercial and Islamic banking and other financial services. It employs 16,924 people and is head office in Abu Dhabi. In 2016, the bank's total assets were $70 billion and net profit was $1.13 billion.

First Gulf Bank

Established in 1979 and head office in Abu Dhabi, the first gulf bank employs around 1,400 employees and is present in 19 countries worldwide. The bank's business areas include Wholesale Banking Group, Treasury and Global Markets, Consumer Banking, Real Estate and other operations. In 2016, the bank's total assets amounted to $66 billion and net profit reached $1.65 billion.

Dubai Islamic Bank

It was established in 1975 and is based in Dubai. The bank operates through its consumer banking, corporate banking, real estate development, treasury, and other businesses. It serves around 1.7 million customers and maintains 90 branches in the United Arab Emirates. In 2016, the bank reported total assets of $47 billion and posted a net profit of $1.12 billion.

Mashreq Bank

It was established in 1967 and is based in Dubai with approximately 4,000 employees. It’s a Public Limited Company and is an associated company of the HSBC Group. It offers retail banking, commercial banking, investment banking, Islamic banking, brokerage, and asset management services. The bank operates around 45 domestic branches and 20 international branches and is present in Egypt, Qatar, Kuwait and Bahrain. In 2016, the bank's total assets were $33 billion and net profit was $531 million.

Abu Dhabi Islamic Bank

Founded in 1997 and is head office in Abu Dhabi. It operates through the following areas: Global Retail Banking, Global Wholesale Banking, Private Banking, Treasury, Real Estate and Others. It is present in Egypt, Iraq, Saudi Arabia and the United Kingdom. In 2016, the bank's total assets amounted to $33 billion and net profit reached $531 million.

Union National Bank

Established in 1982, it provides business and investment banking services to salaried individuals, the self-employed, high net worth individuals and business entities in the United Arab Emirates and abroad. Head office in Abu Dhabi, the bank manages a network of 76 branches around the world. It operates through its International Financial Institutions division and the Treasury and Investments division. In 2016, the bank reported total assets of $28 billion and posted a net profit of $430 million.

Commercial Bank of Dubai

Founded in 1969, it is head office in Dubai. The bank offers corporate banking, commercial banking, personal banking, Islamic banking, and support services. It is the 35th largest bank in the Arabian Gulf region. As of 2016, the bank's total assets were $17 billion and net profit $273 million.

RAKBank

Established in 1976, it is based in the emirate of Ras Al-Khaimah, it is the only one on the list that is not from Dubai or Abu Dhabi. It is also known as the National Bank of Ras Al Khaimah. The bank provides retail and business banking services to individuals and businesses in the United Arab Emirates. The business operates through five segments: Retail Banking, Wholesale Banking, Commercial Banking, Treasury, and Insurance Business. It manages a network of 38 branches and serves around 700,000 customers. In 2016, the bank's total assets amounted to $11 billion and net profit reached $180 million.